Payments processor Total Systems Services Inc. has signed a new agreement with merchant services provider Pivotal Payments Inc., the companies said Tuesday.

The Columbus, Ga.-based payments processor known as TSYS will be the preferred provider of authorization, settlement and dispute resolution services for Pivotal Payments, which serves over 60,000 customers and processes over $10 billion in annual debit and credit volume.

"We are extremely excited to be Pivotal Payment's preferred partner," Mark Pyke, president of TSYS Merchant Services, said in a press release. "Pivotal Payments has created one of the fastest growing and most successful organizations in the payments industry, and TSYS is set to be a catalyst to aid in its continued growth."